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Guideline Value

Corporate

Guideline Value for Moogambigai Nagar 2nd CrossStreet

₹2200/sq.ft.

The guideline value for Moogambigai Nagar 2nd Crossstreet in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹300 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹250 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹97 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Moogambigai Nagar 2nd Crossstreet

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Moogambigai Nagar 2nd CrossStreet guideline value

The current guideline value of Moogambigai Nagar 2nd CrossStreet is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Moogambigai Nagar 2nd CrossStreet has changed

The guideline value for Moogambigai Nagar 2nd CrossStreet has seen several revisions over the years. Starting with the 2002 revision, the value was Rs 97 per sq.ft. This increased to Rs 250 per sq.ft in 2003, followed by a substantial rise to Rs 300 per sq.ft in 2007. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, but it decreased to Rs 1,340 per sq.ft in 2017. The value then increased to Rs 2,000 per sq.ft in 2023, and the most recent 2024 revision set the value at Rs 2,200 per sq.ft.

Examining the changes between these revisions, from 2002 to 2003, the increase was +158%. The value then rose by +20% from 2003 to 2007. The 2007 to 2012 period saw a significant decrease of -33%. However, from 2012 to 2017, the value increased by +49%. The 2023 to 2024 revision marked a +10% increase, resulting in an overall increase of +2168% from 2002 to 2024.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Moogambigai Nagar 2nd CrossStreet at this median value.

Stamp duty and registration fee for property in Moogambigai Nagar 2nd CrossStreet

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Moogambigai Nagar 2nd CrossStreet?

The Sub Registrar Office that covers Moogambigai Nagar 2nd CrossStreet is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nerkundram

The guideline value plays a crucial role during the registration process when buying or selling property in Nerkundram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on the official valuation set by the Registration Department.

When a property transaction occurs, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Moogambigai Nagar 2nd CrossStreet?

The current guideline value of Moogambigai Nagar 2nd CrossStreet is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 97 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024. The most notable changes include a decrease from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017 and an increase to Rs 2,200 per sq.ft in 2024.

What is the median guideline value in Nerkundram?

The median guideline value in Nerkundram is Rs 2,200 per sq.ft. This median value is reflective of the 476 streets under the Virugambakkam SRO.

How is stamp duty calculated for properties in Moogambigai Nagar 2nd CrossStreet?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

Where can I find the Sub Registrar Office for Moogambigai Nagar 2nd CrossStreet?

The Sub Registrar Office for Moogambigai Nagar 2nd CrossStreet is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.